The Federal Reserve Bank of Cleveland provides an early assessment of a new foreclosure law in Ohio designed to help reduce vacant and blighted properties in the state.
An article by Michelle Park Lazzette details a new state law in Ohio that fast-tracks foreclosures of vacant and abandoned properties.
Lazzette checks in with community development experts from the Federal Reserve Bank of Cleveland, the same organization that targeted the need for such a law in a 2013 white paper. Their verdict: the success of the new law will all come down to implementation.
Potential sticking points for the new law include local jurisdictions, financial institutions, and some local housing advocates, according to the Cleveland Fed experts cited in the article. The potential benefits of the new law, however, include lower costs to local jurisdictions and neighbors.
FULL STORY: A Faster Foreclosure Option for Vacant, Abandoned Properties
Ohio Bans the Use of Plywood to Board Up Vacant Buildings
The state of Ohio is expanding a practice used by the Fannie Mae to counter the negative effects of vacancies and blight.
The External Costs of Vacant Homes
It might seem obvious that vacant homes attract crime and other noxious elements to surrounding properties, but researchers are still working to quantify those external costs.
$160 Million in Bond Funding for Demolitions on the Ballot in Detroit
Proposal N, on the ballot for Detroit voters next week, will provide $160 million in bond funding for demolitions and $90 million to mothball homes for future rehab, but, according to this opinion, it won't solve the city's blight challenges.
Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
National Parks Layoffs Will Cause Communities to Lose Billions
Thousands of essential park workers were laid off this week, just before the busy spring break season.
Retro-silient?: America’s First “Eco-burb,” The Woodlands Turns 50
A master-planned community north of Houston offers lessons on green infrastructure and resilient design, but falls short of its founder’s lofty affordability and walkability goals.
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Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
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